Chevy Chase Trust Holdings LLC Sells 77,468 Shares of Wells Fargo & Company (NYSE:WFC)

Chevy Chase Trust Holdings LLC trimmed its holdings in Wells Fargo & Company (NYSE:WFC) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,754,783 shares of the financial services provider’s stock after selling 77,468 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Wells Fargo & Company worth $123,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of WFC. Vontobel Holding Ltd. grew its position in Wells Fargo & Company by 106.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 48,233 shares of the financial services provider’s stock valued at $2,725,000 after purchasing an additional 24,911 shares during the last quarter. B.O.S.S. Retirement Advisors LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $452,000. Alliance Wealth Advisors LLC grew its position in Wells Fargo & Company by 2.0% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 10,505 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 210 shares during the last quarter. Hengehold Capital Management LLC purchased a new stake in Wells Fargo & Company during the 3rd quarter valued at about $260,000. Finally, Mezzasalma Advisors LLC grew its position in Wells Fargo & Company by 6.9% during the 3rd quarter. Mezzasalma Advisors LLC now owns 4,562 shares of the financial services provider’s stock valued at $258,000 after purchasing an additional 295 shares during the last quarter. 75.90% of the stock is owned by hedge funds and other institutional investors.

Wells Fargo & Company Price Performance

NYSE WFC opened at $78.76 on Friday. Wells Fargo & Company has a 12 month low of $47.96 and a 12 month high of $81.50. The stock has a market cap of $262.23 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.22 and a beta of 1.18. The company’s 50 day moving average is $74.20 and its two-hundred day moving average is $65.87. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.07.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.09. The firm had revenue of $20.38 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Wells Fargo & Company had a net margin of 15.73% and a return on equity of 12.38%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. As a group, research analysts anticipate that Wells Fargo & Company will post 5.89 earnings per share for the current year.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Investors of record on Tuesday, January 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WFC. Citigroup increased their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial raised their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays raised their price target on shares of Wells Fargo & Company from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, January 16th. Finally, Piper Sandler raised their price target on shares of Wells Fargo & Company from $62.00 to $75.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.39.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.